W.P. Carey Inc. $WPC Shares Sold by Hantz Financial Services Inc.

Hantz Financial Services Inc. cut its stake in W.P. Carey Inc. (NYSE:WPC) by 2.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,686 shares of the real estate investment trust’s stock after selling 1,026 shares during the period. Hantz Financial Services Inc.’s holdings in W.P. Carey were worth $2,788,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of WPC. GAMMA Investing LLC boosted its position in shares of W.P. Carey by 36.1% in the first quarter. GAMMA Investing LLC now owns 2,570 shares of the real estate investment trust’s stock worth $162,000 after acquiring an additional 681 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of W.P. Carey by 13.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,087 shares of the real estate investment trust’s stock worth $758,000 after acquiring an additional 1,442 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of W.P. Carey by 14.6% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 69,439 shares of the real estate investment trust’s stock worth $4,382,000 after acquiring an additional 8,832 shares during the last quarter. Private Trust Co. NA lifted its position in W.P. Carey by 22.4% during the first quarter. Private Trust Co. NA now owns 3,325 shares of the real estate investment trust’s stock valued at $210,000 after buying an additional 609 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in W.P. Carey during the first quarter valued at approximately $2,019,000. 73.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WPC. Royal Bank Of Canada lifted their price target on shares of W.P. Carey from $67.00 to $69.00 and gave the company an “outperform” rating in a research report on Thursday. Scotiabank lifted their price target on shares of W.P. Carey from $64.00 to $67.00 and gave the company a “sector perform” rating in a research report on Friday, September 5th. Barclays lifted their price target on shares of W.P. Carey from $64.00 to $66.00 and gave the company an “underweight” rating in a research report on Monday, October 20th. Wells Fargo & Company raised shares of W.P. Carey from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $68.00 to $72.00 in a research report on Thursday, September 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of W.P. Carey in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, W.P. Carey currently has a consensus rating of “Hold” and a consensus price target of $67.89.

W.P. Carey Trading Up 1.2%

WPC opened at $66.03 on Friday. The firm has a market capitalization of $14.46 billion, a P/E ratio of 40.02, a P/E/G ratio of 9.57 and a beta of 0.81. The firm’s 50 day moving average is $67.46 and its 200-day moving average is $64.48. W.P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $69.79. The company has a quick ratio of 0.19, a current ratio of 0.25 and a debt-to-equity ratio of 1.02.

W.P. Carey (NYSE:WPC) last posted its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.02. The company had revenue of $431.30 million for the quarter, compared to analyst estimates of $424.44 million. W.P. Carey had a net margin of 21.75% and a return on equity of 4.40%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.18 earnings per share. W.P. Carey has set its FY 2025 guidance at 4.930-4.990 EPS. Analysts expect that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a dividend of $0.91 per share. This is an increase from W.P. Carey’s previous quarterly dividend of $0.90. This represents a $3.64 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date was Tuesday, September 30th. W.P. Carey’s payout ratio is 220.61%.

W.P. Carey Company Profile

W. P. Carey ranks among the largest net lease REITs with a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,424 net lease properties covering approximately 173 million square feet and a portfolio of 89 self-storage operating properties as of December 31, 2023.